Richards Packaging Income Fund Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 01, 2023 at 05:55 pm EDT
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Richards Packaging Income Fund reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was CAD 101.38 million compared to CAD 109.04 million a year ago. Net income was CAD 8 million compared to CAD 11.66 million a year ago. Basic earnings per share from continuing operations was CAD 0.73 compared to CAD 1.06 a year ago. Diluted earnings per share from continuing operations was CAD 0.701.
For the nine months, sales was CAD 317.08 million compared to CAD 338.76 million a year ago. Net income was CAD 28.7 million compared to CAD 36.28 million a year ago. Basic earnings per share from continuing operations was CAD 2.62 compared to CAD 3.31 a year ago.
Richards Packaging Income Fund (the Fund) is a Canada-based company. The Fund owns Richards Packaging Inc. (Richards Packaging), which serves a range of customer bases throughout North America comprised of approximately 17,000 regional food, beverage, cosmetics, healthcare, and other enterprises. Richards Packaging specializes in the design, manufacture, and distribution of packaging solutions in both glass and plastic containers and closures for a variety of markets. It is engaged in the distribution of approximately 8,000 different types of packaging components and healthcare products that are sourced from over 900 suppliers and three manufacturing facilities. It sources products from glass and plastic companies both in raw materials and in finished goods. Richards Packaging services include global sourcing, inventory management, manufacturing, and packaging 101.
RICHARDS PACKAGING INCOME FUND 
